After their appearance in Asia in 2019, the company has consolidated its presence among important financial groups and banks in the region, recently accessing the ‘Innovation Financial Services’ sandbox launched by the South Korean government
FacePhi will integrate its SelphID software into the account opening processes for Pinetree Securities clients, so that the new user can verify their identity through a comparison between a simple selfie taken at the moment and the photograph of their identity document
“Vietnam is one of the economies that has evolved the best in 2020, despite the difficult situation experienced by the pandemic, with growth forecasts that many experts place above 6% in 2021″, the Company explains
FacePhi maintains its momentum in Asia with the signing of a new agreement with Pinetree Securities, the digital leading finance company specialized in online investment services in Vietnam. This project represents the entry of Spanish technology into the Vietnamese market, marking a new milestone in its rapid expansion across the Asian continent, just two years after establishing its first international headquarters in South Korea.
The technology that the firm will integrate into Pinetree Securities will be the SelphID digital onboarding software, which will facilitate the opening of new client accounts. To achieve this, the solution will request a simple selfie from the user, which will be taken with a passive liveness test, it will extract the patterns from their face and compare them with the photograph present in their identity document, in order to verify their identity in a quicker and safer way. This fully-digital & mobile-accessible process will provide better user-experience with strong security and convenience.
“The Pinetree Securities project gives us the opportunity to collaborate with a leading company in Vietnam, which has made customer service and the generation of trust their true hallmarks. It is a great opportunity to be able to contribute our biometric solutions to the digitization process of such a company”, explains Dongpyo Hong, CEO of FacePhi APAC, who also values the firm’s entry into a new market: “Vietnam is one of the economies that has evolved the best in 2020, despite the difficult situation experienced by the pandemic, with growth forecasts that many experts place above 6% in 2021. It is a country that is being very proactive in the commercial sphere, which in recent years has opened up a lot abroad by signing international treaties and which is managing to attract more and more foreign investment”.
With this new agreement, FacePhi continues to boost its presence in Asia, where the firm specialized in biometric solutions has already developed multiple projects for major financial groups, banks and hospitals. Since mid-2019, the company has grown especially in South Korea, where it has become part of the regulatory sandbox ‘Innovation Financial Services’ launched by the Korean government.
Pinetree Securities Corporation is Vietnam’s leading online investment services company and since 2019 is part of Hanwha Investment & Securities and Hanwha Group Hanwha Group, a leading economic group in Korea.